Financial Guidance Group Inc. Reduces Stock Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Financial Guidance Group Inc. trimmed its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 14.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,800 shares of the company’s stock after selling 1,500 shares during the period. Financial Guidance Group Inc.’s holdings in Bentley Systems were worth $447,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BSY. Forsta AP Fonden lifted its holdings in Bentley Systems by 45.0% in the 1st quarter. Forsta AP Fonden now owns 63,500 shares of the company’s stock valued at $3,316,000 after purchasing an additional 19,700 shares in the last quarter. Diversify Advisory Services LLC acquired a new position in shares of Bentley Systems during the 1st quarter valued at about $935,000. Vanguard Group Inc. lifted its holdings in shares of Bentley Systems by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock worth $1,162,002,000 after acquiring an additional 134,516 shares during the period. Cetera Advisors LLC acquired a new stake in shares of Bentley Systems in the first quarter worth approximately $608,000. Finally, Clearline Capital LP acquired a new position in Bentley Systems during the second quarter worth approximately $6,999,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Insider Activity

In other news, Director Raymond B. Bentley sold 91,045 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the completion of the transaction, the director now directly owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Bentley Systems news, Director Barry J. Bentley sold 34,987 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $48.37, for a total transaction of $1,692,321.19. Following the sale, the director now directly owns 12,213,248 shares in the company, valued at approximately $590,754,805.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Raymond B. Bentley sold 91,045 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the completion of the sale, the director now directly owns 16,598,656 shares of the company’s stock, valued at approximately $820,471,566.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 276,032 shares of company stock valued at $13,720,676. 21.12% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BSY has been the topic of several analyst reports. The Goldman Sachs Group dropped their target price on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Rosenblatt Securities reiterated a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research note on Monday, September 16th. Piper Sandler reaffirmed an “overweight” rating and set a $63.00 price target on shares of Bentley Systems in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Bentley Systems has a consensus rating of “Moderate Buy” and an average target price of $59.57.

Bentley Systems Stock Performance

Shares of BSY opened at $48.73 on Friday. The stock has a market capitalization of $14.06 billion, a PE ratio of 45.54, a price-to-earnings-growth ratio of 4.09 and a beta of 1.03. The business’s fifty day moving average price is $49.80 and its 200 day moving average price is $50.50. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.49 and a quick ratio of 0.49. Bentley Systems, Incorporated has a 12-month low of $43.82 and a 12-month high of $57.19.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.08. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. The company had revenue of $330.34 million for the quarter, compared to the consensus estimate of $325.20 million. During the same period last year, the firm posted $0.20 EPS. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. Equities research analysts forecast that Bentley Systems, Incorporated will post 0.9 EPS for the current year.

Bentley Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Tuesday, September 17th. Bentley Systems’s dividend payout ratio is presently 22.43%.

Bentley Systems Company Profile

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.